Property tax is a go!

lbtxYesterday the government finally approved the long awaited land and buildings tax. What has happened since? Quite a few property names, hotels heavy with assets, and industrial estates have been hurt. Hospitals, on the other hand, are only subject to 1/4 of the tax levied.

However most analysts have been saying that in the end everything shall be passed onto the end user, great, looking forward to higher property prices in the future!

Stocks in the news (br, chow, daii, earth, epg, esso, gold, ihl, impact, ircp, lhk, s, samtel, uniq) 09.06.16

BR
BR expects 2016 revenue growth OF 10-15% supported by recovery in sales in 2H16. It plans to develop a new project to increase its margin. It expects to conclude a JV in Hong Kong in 1-2 months which is a key to expanding to Indonesia. (Thun Hoon, 09/06/16)
Comment: Cheap on valuations, so so on growth prospects
 
CHOW
CHOW sets 2016 revenue target growth at 50% to reach Bt4bn. It expects to sell 180k tons of steel, supported by government projects and higher price. It expects to start up a 30.5MW power plant by the end of this year and will list “CHOW Energy” on mai this year. (Kao Hoon, 09/06/16)
Comment: They have spent the last 12 months accumulating PPA’s in Thailand and solar power projects in Japan. Will be interesting to see the financial performance of those plants 
 
DAII
DAII has cut its 2016 revenue target growth to 10% from 15% as sales of construction materials has slowed. It expects to book an extra item from sale of land in 3Q16 which will push 2016 profit to grow more than last year. It plans to expand in Vietnam. (Kao Hoon, 09/06/16)
EARTH
EARTH expects 2Q16 earnings to be good supported by high season. It is certain that 2016 revenue will grow 10% from last year’s Bt17.1bn as it has a wider customer base. It expects to finish the deal for a solar farm in Europe this year. (Thun Hoon, 09/06/16)

Continue reading Stocks in the news (br, chow, daii, earth, epg, esso, gold, ihl, impact, ircp, lhk, s, samtel, uniq) 09.06.16